JPMorgan Chase & Co. Cuts Stake in Adecoagro S.A. (NYSE:AGRO)

JPMorgan Chase & Co. lessened its stake in Adecoagro S.A. (NYSE:AGRO - Free Report) by 21.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 639,969 shares of the company's stock after selling 174,269 shares during the period. JPMorgan Chase & Co. owned about 0.61% of Adecoagro worth $7,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in Adecoagro in the third quarter valued at $37,000. Point72 Hong Kong Ltd bought a new position in Adecoagro during the 2nd quarter valued at $42,000. Blue Trust Inc. boosted its holdings in Adecoagro by 1,281.5% during the 3rd quarter. Blue Trust Inc. now owns 7,322 shares of the company's stock worth $81,000 after acquiring an additional 6,792 shares during the last quarter. Quarry LP grew its stake in shares of Adecoagro by 259.4% in the 2nd quarter. Quarry LP now owns 7,598 shares of the company's stock worth $74,000 after acquiring an additional 5,484 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Adecoagro in the third quarter valued at about $94,000. Institutional investors and hedge funds own 45.25% of the company's stock.

Analyst Upgrades and Downgrades

AGRO has been the topic of a number of research analyst reports. Morgan Stanley downgraded Adecoagro from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $14.50 to $12.50 in a research note on Tuesday, September 17th. UBS Group initiated coverage on shares of Adecoagro in a report on Monday, October 14th. They issued a "neutral" rating and a $12.00 price objective for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.63.

Adecoagro Price Performance

NYSE AGRO traded up $0.15 on Wednesday, hitting $10.06. The stock had a trading volume of 227,683 shares, compared to its average volume of 447,831. The firm has a 50-day moving average of $10.41 and a 200-day moving average of $10.61. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. Adecoagro S.A. has a 52-week low of $8.72 and a 52-week high of $12.07.

Adecoagro Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th were paid a dividend of $0.174 per share. This is a positive change from Adecoagro's previous Semi-Annual dividend of $0.16. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a yield of 2.9%. Adecoagro's dividend payout ratio (DPR) is currently 22.67%.

Adecoagro Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.